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Job Description
The Internal Auditor reports functionally to the Audit Committee of the Board of Directors and administratively to the Chief Executive Officer and will be responsible for:
– Designing, developing and establishing appropriate audit and internal control systems and
procedures for the company to mitigate risks, in accordance with auditing best practices.
– Establishing a risk-based compliance framework to mitigate organisation-wide risks.
Key and Critical Responsibilities
1 Develops auditing systems and procedures to track and verify the soundness of all financial and operational transactions.
2 Develops and maintains a comprehensive Audit Manual to cover financial, operational and electronic data processing risks.
3 Plans and conducts performance, operational and financial audits.
4 Develops an Annual Audit Work Plan for approval by the Audit Committee of the Board.
5 On a periodic basis, tests the efficacy of the internal controls of the companys departments relative to its stated policies and procedures and identifies business process risks.
6 Follows up with departments post-audit exercises to determine whether corrective actions have been undertaken.
7 Communicates audit findings and recommended corrective action to the Audit Committee of the Board and the Chief Executive Officer.
8 Makes recommendations, provides advice and opinions to Management to ensure compliance with accounting and operational best practices.
9 Reviews all new systems prior to implementation and makes recommendations for improvements in
risk management and process efficiency.
10 Provides assistance to the Board and/or Chief Executive Officer on special projects.
11 Liaises with the external auditors and regulators on the effectiveness of internal controls and provides the necessary assistance as required.
12 Establishes, manages and promotes the standards of the Internal Auditing Activities (IAA), e.g. discussing audit reports with departments involved prior to finalising the report, and ensures compliance with statutory requirements.
13 Achieves budget and other performance targets for the Audit Department.
14 Trains, develops, and coaches subordinates to create and maintain a high level of productivity in the department and to ensure departmental targets are achieved.
Key Competencies
– Knowledge of the laws and regulations governing the companys operations.
– Proven success conducting audits.
– Well-developed analytical skills.
– Proven communication and interpersonal skills.
– Effective time management and organizational skills.
– Proficiency in Microsoft Office Suite.
– Knowledge of Risk Analysis Methodologies.
– Knowledge of FIU Regulations and Associated Legislation on AML/CTF.
– Knowledge of the Exchequer and Audit Act and other legal frameworks that govern the operations of governmental institutions.
– Knowledge of the governance requirements of State Enterprises and Government Agencies.
